Question

how would you know a country is developed underdeveloped and developing using 1.Gross National Product
2. Gross national product per capita
3.Gross domestic product
4. Gross Domestic Product Per Capita
5. Employment rate
6. Educational development
give two examples each

Answer 1

Question 1:

Solution : This type of classification made by the World Bank in terms of GNP per capita income .

Developed nation : a country having more than 12615 dollar GNP per capita income

Developing nation : a country having income between 4,086 to 12,615 dollar GNP per capita

Underdeveloped nation : a country having less than 1,035 dollar GNP per capita income

The example for this will be

US economy is known as the Developed economy and

India is known as the Developing Economy.

Answer 2

Gross National Product (GNP): A country with a high GNP indicates that it has a large economy and produces a significant amount of goods and services.

Developed Country Example: United States of America (2019 GNP: $21.4 trillion)

Underdeveloped Country Example: Burundi (2019 GNP: $3.12 billion)

Gross National Product per Capita (GNP per capita): This measure indicates the average income per person in a country, which is a useful indicator of a country's economic well-being.

Developing Country Example: India (2019 GNP per capita: $2,171)

Developed Country Example: Switzerland (2019 GNP per capita: $85,108)

Gross Domestic Product (GDP): GDP is the total value of goods and services produced within a country's borders. A high GDP indicates a strong economy, with a large market for goods and services.

Developed Country Example: Japan (2019 GDP: $5.15 trillion)

Developing Country Example: Ethiopia (2019 GDP: $96.12 billion)

Gross Domestic Product per Capita (GDP per capita): This measure indicates the average income per person in a country based on the GDP, which is an important indicator of a country's economic growth.

Developed Country Example: Luxembourg (2019 GDP per capita: $113,196)

Developing Country Example: Bangladesh (2019 GDP per capita: $1,887)

Employment Rate: This measure indicates the percentage of the working-age population that is currently employed. A higher employment rate indicates a stronger economy, with more job opportunities.

Developed Country Example: Norway (2019 employment rate: 75.6%)

Developing Country Example: Kenya (2019 employment rate: 40.5%)

Educational Development: This measure indicates the level of education and literacy in a country, which is an important factor in a country's overall development.

Developed Country Example: Finland (2019 Education Index: 0.92)

Developing Country Example: Uganda (2019 Education Index: 0.45)

It is important to note that no single measure can fully capture a country's development status, and different measures may provide different insights into a country's overall well-being.